The Surge in AI Mentions

Artificial intelligence has become the new buzzword on Wall Street. According to data from Strategas and Bloomberg, companies in the S&P 500 mentioned “AI” over 10,000 times in recent earnings calls — the highest number in history.
This marks an increase of more than 100% in just 18 months, compared to roughly 1,000 mentions during the three-month period ending March 2023.

The scale of this jump highlights how deeply AI has penetrated every business sector — from technology and finance to healthcare and manufacturing.

A Structural Shift in the U.S. Economy

Over 60% of S&P 500 companies referred to “AI” during this earnings season — twice as many as in the fourth quarter of 2022.
The takeaway is clear: artificial intelligence is no longer a niche technology. It has become a strategic engine transforming entire business models.

Executives now emphasize AI as a driver of efficiency, cost reduction, and profitability. Yet behind the enthusiasm lies a risk: some companies use “AI” mainly as a marketing signal to impress investors, even when the real impact on revenue remains limited.

Between Hype and Business Reality

The soaring demand for AI technologies has created intense competition. Companies are investing billions in computing infrastructure, data analytics, and strategic partnerships.
At the same time, rising costs for computing power, chips, and cloud systems are raising questions about future profitability.

Wall Street analysts warn that this could evolve into a “buzzword bubble” — a phase where investor attention focuses more on mentions and expectations than on actual financial performance.
However, history suggests that even after periods of hype, technological revolutions tend to leave behind lasting economic value.

Implications for Financial Markets

The AI frenzy has amplified volatility among major tech stocks such as Nvidia, Microsoft, and Alphabet, while fueling a wave of new investments in AI-focused ETFs and funds.
Institutional investors increasingly view artificial intelligence as a long-term growth catalyst, while retail investors oscillate between excessive optimism and fear of another bubble.

This dynamic positions AI as the most influential factor currently shaping valuations, expectations, and strategies of America’s largest corporations.

Conclusion

Artificial intelligence is no longer a slogan – it is the new economy.
The record number of mentions in S&P 500 earnings calls reflects a fundamental shift in how companies, investors, and markets view technology.

While there is a real risk of inflated expectations, it’s undeniable that AI is already reshaping every layer of business activity.
In a world where every company wants to label itself as an AI company, the real question is — who will turn the talk into tangible profits.